This introduction sets the stage, explaining the magnitude of the situation and its potential impacts on the market.

It’s a huge risk, especially if it goes non performing so why should we take on additional risk?

@Dan Bowe, if the broker lies to you, he risks losing out on your potential offer. 

There is no better way to reduce the amount of cash you are risking to get into a multifamily property. 

I've got a chance to pick up one in Flint in 48504.Rehab started with new subflooring and drywall hung.Would sell it for $4k.My question, is Flint worth taking this risk?

The only thing I would potentially be weary of is damages to the property.

That being said say it takes 2-3 years to move out rents could and likely will be higher and you could potentially refi to a lower payment.

@Bryce Henson my understanding after dealing with reverse mortgages is that the reason it’s listed too high is likely there are rules in place for selling them, there’s a determination of list price from the lender,must be listed at that level for a certain time, then they’ll re-analyze and potentially drop it if it doesn’t sell in that time frame.

To obtain practical experience, start small with a modest multi-family property or home hacking potential.

There is quite a bit to learn so I would say get moving - read, go to meetings, consider working with someone who can help you jump the learning curve, set meetings with potential team members.